March 12, 2025
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Temasek Values Haldiram at Rs. 87000 Crore
Singapore’s sovereign wealth fund, Temasek, is set to invest around Rs.8,000 crore for a 9% minority stake in Haldiram Snacks Foods Private Limited, the FMCG arm of the Indian snacks and savoury foods giant, sources close to the deal have revealed. This investment values the company at approximately Rs.87,000 crore (around $10 billion), positioning it as one of the largest transactions in India’s consumer sector in recent times.
The deal follows a term sheet signed by Temasek on January 7, with both parties expected to finalize agreements shortly, potentially as early as this week. Despite interest from other bidders, Temasek is poised to emerge as the lead investor with the largest minority stake.
Temasek’s strong track record in the consumer sector and its partnership-driven approach were key factors in its selection, with Haldiram being recognized as a dominant brand in the market. Haldiram may also consider selling an additional minority stake beyond the initial 9%, with other potential investors such as Blackstone and Alpha Wave Global previously showing interest.
This investment is viewed as a pre-IPO move, setting a valuation benchmark for the company. There’s also speculation that high-net-worth individuals (HNIs) could participate in acquiring the additional stake.
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